The global electric two-wheeler market is poised for significant growth, with a projected compound annual growth rate (CAGR) of around 12% during the period of assessment from 2023 to 2030. By the end of 2030, the market is expected to exceed a value of US$80 billion, driven by various factors and key market dynamics.
Read More: https://www.fairfieldmarketresearch.com/report/electric-two-wheeler-market
Market Analysis in Brief
Electric two-wheelers, which include automated vehicles such as scooters and motorcycles powered solely by batteries, are witnessing robust demand due to their environmental benefits, reduced noise pollution, and government incentives. The market is expected to receive a significant boost from technological advancements in battery management systems, as well as favorable tax benefits offered by governments and suppliers. The volatility of petrol prices in the global oil market further encourages consumers to consider electric two-wheelers as a reliable alternative for their commuting needs.
Key Report Findings
The electric scooter segment is expected to drive the demand for electric two-wheelers.
Hub motors remain popular in the electric two-wheeler market.
The 48V category held the highest market revenue share in 2022.
Lithium-ion batteries dominate the market due to their advantages over lead-acid batteries.
Asia Pacific continues to lead, while North America experiences strong growth until 2030.
1. Growing Use of Battery Swapping Technology: Battery swapping technology is revolutionizing the electric vehicle industry, alleviating range anxiety and making long-distance travel more convenient. Government policies and investments in battery-swapping stations are expected to address range limitations and encourage electric scooter and motorcycle adoption.
2. Mounting Sales of Electric Motorbikes and E-bikes for Short Trips: Increasing traffic congestion and the need for quick, affordable transportation solutions have driven the sales of electric motorcycles and e-bikes. Government tax incentives and reduced GST rates on electric motorcycles in countries like India further promote their use for urban commutes.
1. Performance, Range, and Design Limitations: Electric two-wheelers are still evolving, and many models do not yet match the performance and design expectations of traditional two-wheelers. Range limitations are also a concern for consumers, especially those with longer commutes.
Overview of Key Segments
1. E-scooter Sales Highest: E-scooters and mopeds are expected to dominate the electric scooter and motorcycle market due to their affordability and suitability for daily commuting. Manufacturers like Nexzu Mobility are driving growth in this segment.
2. Lithium-ion Battery Type Dominant: Lithium-ion batteries are expected to maintain their dominance in the market, offering higher energy density, lighter design, longer lifespan, and faster charging times compared to lead-acid batteries.
Growth Opportunities Across Regions
1. e-Mobility Adoption Soars in Key Asian Countries: Asia Pacific continues to lead the global electric two-wheeler market, driven by environmental concerns, government initiatives, and increasing consumer access to electric two-wheelers.
2. North America to Witness Escalating Sales: North America is experiencing significant growth in electric two-wheeler sales, with the United States leading the market. Falling battery prices, investments by shared mobility players, and increased efforts by major two-wheeler companies contribute to this growth.
Electric Two-wheeler Market: Competitive Landscape
Prominent players in the electric two-wheeler market include Yadea Group Holdings Ltd., Silence Urban Ecomobility, Niu Technologies, Segway Inc., Hero Electric Pvt. Ltd., Okinawa Autotech Pvt. Ltd., Ather Energy Pvt. Ltd., AIMA Technology Co., Ltd., Ola Electric Mobility Pvt Ltd., Pure Electric, Piaggio & C. SpA, and BMW North America, LLC.
The global electric two-wheeler market is on a rapid growth trajectory, driven by technological innovations, government support, and changing consumer preferences. As environmental concerns and urban mobility needs continue to evolve, the market is expected to witness substantial expansion in the coming years.
Our Trending Blogs:
Fairfield Market Research
UK +44 (0)20 30025888
USA (Toll-free) +1 (844) 3829746